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A Fin24 user writes:
My mom held shares in Saambou until her death in 2002. The shares are held through Absa Stockbrokers and the past couple of years I have received a statement indicating the current value as 203c per share.
Is there still a value on these shares - and can shareholders still expect any returns from the stock? Are there liquidators who are still wrapping this up?
Duncan Ingram, chief operating officer at Absa Stockbrokers, responds:
Trading in Saambou was suspended by the JSE about eight or nine years ago.
The company is currently being liquidated and upon completion of liquidation proceedings surplus funds, if any, will be distributed among shareholders.
The value displayed on the statement (203c) is Saambou’s last traded price prior to the share's suspension.
- Fin24
My mom held shares in Saambou until her death in 2002. The shares are held through Absa Stockbrokers and the past couple of years I have received a statement indicating the current value as 203c per share.
Is there still a value on these shares - and can shareholders still expect any returns from the stock? Are there liquidators who are still wrapping this up?
Duncan Ingram, chief operating officer at Absa Stockbrokers, responds:
Trading in Saambou was suspended by the JSE about eight or nine years ago.
The company is currently being liquidated and upon completion of liquidation proceedings surplus funds, if any, will be distributed among shareholders.
The value displayed on the statement (203c) is Saambou’s last traded price prior to the share's suspension.
- Fin24
